Moroccan Dirham Strengthens Against Euro, Weakens vs Dollar in June

During this period, no auction operation was carried out on the foreign exchange market, BAM indicates, while specifying that as of June 18, 2021, the outstanding official reserve assets stood at 301 billion dirhams (MMDH), down 0.8% from the previous week and up 4.6% year-on-year.

The central bank reports that an amount of 80.9 MMDH was injected, including 35.3 MMDH in the form of 7-day advances on call for tenders and 16.9 MMDH in the form of repurchase agreements, during the same period. Similarly, 28.7 MMDH were injected under the TPME financing support programs.

On the interbank market, the average daily trading volume stood at 4.2 MMDH. As for the interbank rate, it stood at an average of 1.5%. At the June 23 call for tenders (value date June 24), BAM injected 28.1 MMDH in the form of 7-day advances.

On the stock market, the MASI appreciated by 0.5%, bringing its performance since the beginning of the year to 10.9%. This weekly change is explained by the increases in the sectoral indices of "insurance" by 2.8%, "oil and gas" by 2.7% and "Banks" by 1%. Conversely, the indices of "Agri-food" and "Mining" decreased by 3.1% and 2.4% respectively.

As for the overall trading volume, it stood at 1.1 MMDH against 1.3 MMDH the previous week. Regarding the average daily volume on the central equity market, it reached 194.6 million dirhams (MDH), after 249.9 MDH.